Travelzoo closing loss-making Asia business - TravelMole


Travelzoo closing loss-making Asia business

Wednesday, 13 Mar, 2020 0

Travel deals platform Travelzoo will exit Asia Pacific after several years of struggles in the region.

Losses for the past two years in APAC have wiped out much of the gains from the strong North America and Europe businesses.

It announced a revenue decline of 12% in Asia during an earnings call earlier this month, and had consistently said it would pull the plug in Asia if it cannot create ‘shareholder value’ by 2020.

"Unfortunately, the uncertainty about economies in Asia Pacific does not, in our opinion, allow us currently to deliver the shareholder value within the promised timeline and without further operating losses from this segment," said Travelzoo global CEO Holger Bartel.

Last year the APAC business accounted for 5.7% of Travelzoo’s global revenue.

By ditching APAC, it will significantly improve earnings per share, and will not have ‘any negative impact on our continued business,’ Holger said.

Travelzoo will now focus on the profitable North America and Europe businesses as well the recently acquired Jack’s Flight Club subscription service.



 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns

James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel

Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination

Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari